Which of the following theories suggests that firms seek to penetrate new markets over time?
A. Theory of Comparative Advantage
B. Imperfect Market Theory
C. Product cycle theory
D. None of the above
Answer: Option C
Solution(By Examveda Team)
Product cycle theory suggests that firms seek to penetrate new markets over time. The International Product Life Cycle Theory was authored by Raymond Vernon in the 1960s to explain the cycle that products go through when exposed to an international market. The cycle describes how a product matures and declines as a result of internationalization.This Question Belongs to Management >> International Finance And Treasury
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